Commodities
Domestic Gold, Silver Prices Plummet Amid Selling Pressure
Gold and silver prices in Delhi plummeted on Friday, despite gains in global bullion markets. Traders attributed the sharp correction to selling pressure after a recent rally.
According to local traders, gold of 99.9 per cent purity fell by Rs 2,700 to Rs 1,55,900 per 10 grams (inclusive of all taxes). Silver declined by Rs 10,000 to Rs 2,34,600 per kg (inclusive of all taxes) against the previous close of Rs 2,44,600 per kg.
Despite gains in global markets, where spot gold rose $49.82, or 1.15 per cent, to $4,366.58 per ounce and silver gained 2 per cent to $64.77 per ounce, the domestic selloff continued.